Did You Ever Think Dry Could Go this High DRYS

Nov 16, 2016: 12:18 PM CST

The talk of the trading community this week is the impossible, raging rally in Dry Ships (DRYS).

We leave the reason aside and follow the price.

Let’s update our chart from the original post I made for you on November 14th.

Before looking at today’s “what happened next” chart above, take a moment to read the brief post from Monday.

Here’s a quick quote:

“We believe that stocks which are strong tend to get stronger, not weaker and DRYS gives us a perfect example of this “strong getting stronger” concept developing rapidly.”

Dry Ships reminds us this statement is true and advantageous to us for making quick profits.

After the post, there were even more, larger pro-trend retracements along the way.

I understand – it’s difficult to imagine something going from $5.00 to $100.00 in a week.

I understand feeling like “the moment I get long (buy) is the moment it reverses.”

However, use this as a key educational example of “black swan” or once-in-a-year events that do actually happen.

Your goal IS NOT to capture the bottom to the top. That’s literally impossible.

However, you CAN capture smaller, risk-controlled retracements that develop along the way.

This rally may be ending with the rapid reversal at $100 but add this stock – and this example – to your growing knowledge of how the market works and – as Mark Douglas reminds us – ANYTHING is possible.

From $5.00 to $100.00 in four days.  Yes – it happened.

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Corey Rosenbloom, CMT

Afraid to Trade.com

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3 Responses to “Did You Ever Think Dry Could Go this High DRYS”

  1. Intelligent Trend Follower Says:

    I guess it goes to show the trend is your friend. But wow, the move in this stock has really been something to behold.

  2. Duggas Says:

    Looks ideal setting for reversal, but then we have seen so many things that’s surprising so we just not need to do guess work here or else it could be big trouble. I do it all very brightly and that’s thanks to OctaFX broker with their monstrous rebate program where I can get 50% back on all trades even with the losing one too, so that is seriously special and brings that calmness to my play enables me to perform well!

  3. impaler Says:

    DRYS looked ideal for more reverse splits. Or BK. Horrible Economooch management ensures money is stolen from the shareholder to buy more art. Then again, traders with money to burn would certainly chase this shipwreck